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Since I started playing Baccarat regularly a few months ago (and a couple of other games like Pai Gow Poker and Three Card Poker) I've been ahead however slightly. Up until yesterday I had yet to leave the casino with a loss. My wins were nothing spectacular, sometimes I would leave up by only $5, but still a winner! I knew when to stop playing.

Last night I lost, and I lost big, but the excitement is still there, the interest, the "need" to go play again and again.

I realize my mistake and I'm not sure what caused me to do it. I chased my initial loses at the table when I will usually always bet flat. What happened was I lost 4 times in a row. I then decided to be big in order to recover those losses. I lost that big bet as well. I then sat out a couple of hands, and finally went "all in" to try to recover what I had lost up until that point in the session. I lost again.

I don't recall losing that many hands in a row since I began playing, but it happened.

I learned not to chase losses like that again. I also learned that I shouldn't drink and gamble. I usually don't, but I did yesterday and I think that might've had something to do with it.

I'm proud of myself for not getting more money at the ATM and returning to the table. The desire to do so was strong, but I fought it, decided to eat something and come back another time fresh.

Ok, so I lost, but I still LOVE IT (is this the talking? lol) I'm not too worried about recovering my losses from yesterday, it's gone now, but I've started to write everything down to keep track of where I am.

Had I continued to bet flat like I usually do, I might've slowly recovered some of the loss, or at least lost less by deciding to quit before it was all gone, or quit while I was ahead like I usually do!

I think all of us (at some time or another) have gone "full-tilt" at the tables. Put it behind you, but remember the lesson.
As for how I minimize my exposure?
I go to Vegas with very little cash (usually $300-$400 or so).
I have my ATM limit set at $500/day. So, the most I can get out for a three-night trip is $2000... and that's spread-out over the duration of the trip.
Using this method, I have had about 15 consecutive trips where I either won or lost less than $1500...and I've had more winning trips than losing ones.
Your mileage may vary.

There's definetly a corelation; for me anyways, between betting agressive and drinking. I've found i have a higher win percentage when not drinking than when I do. Pretty sure that's why the casinos give them to you for free (not any local joints).

Anabellet: Thanks for sharing your experience. Yep, we've all been there – done that. Personally, I pride myself on never making the same mistake more than three or four times; so if you learned a lesson last night, you're doing great!

Bossplayer21: I have to agree about the correlation, and will state that only four things will keep me from drinking while gambling:
1. I have a car and will be driving – a rare event
2. I'm on a cruise ship and they charge (plenty) for drinks
3. The cocktail service is abysmally slow
4. I overdid it the night before and am still recovering

Other than those things, I drink like a fish and don't mind saying that some of my biggest wins have occurred when I was bombed. I guess "liquid courage" is for real! Unfortunately, some of my larger losses have also occurred when drinking. I tend to think they average out. Therefore, I've decided that practicing drinking may be more beneficial than practicing gambling.

On a slightly more serious note, I set a session loss limit before I sit down. And while it may not improve multisession results overall, at least I never get slaughtered at any one time. It's demoralizing.

Betting more after losing to 'catch up' is certainly behavior repeated by massive numbers of gamblers, so you certainly didn't set any records there.

I tend to be a flat better at most games, (except blackjack where I'm counting). I find the level where I'll either win or lose an amount that 'matters' for the session and stick with that. I hate lowering my bet for any reason; it feels like I'm predicting a loss by doing that. (If I'm betting less that must mean I don't like my chances; shouldn't I just stop betting completely?) And I don't like raising it after wins that much, either, as that's the way to quickly give it all back. I'd say most gamblers DO press it up after wins when they're 'playing with house money', especially at the craps table where this is a near religion, but I don't look at it that way. As soon as the chips are in front of me that is MY money and I get to choose what to do with it.

It certainly is more exciting to change the size of your bets, but realize that the pattern of your recent wins and losses can't help predict how must you should bet on the next hand. Progressions never can help you lose less or win more overall, they merely raise your average bet. The few times I've attempted various progression systems I ALWAYS ended up busted and lost far more than if I flat bet the game.

Last night I came out with a loss again, but a small loss. I did drink, but only a couple of drinks compared to the other night when I was more in a partying mood. I was tempted to chase the loss, but I continued to bet flat on both Baccarat and Pai Gow Poker. This was good because I was able to recover a little bit. When I stopped, I was down, but not by much compared to the other day.

I met a Chinese American woman a little older than me who's also totally obsessed with Baccarat. She's been playing for longer than I have so it was fun talking to her about her past experiences. We hit it off and we'll be planning on playing together again.

So far I've met a couple of interesting people while gambling, so it's becoming a social thing for me as well. My friends are not into gambling and not really into casinos so I usually go alone, but since I'm meeting other "regulars", the longer I go, the less alone I am. I've taken a couple of friends to the casino with me, but they end up totally bored because I'm so focused on the game I'm playing. It's not fun for them, so getting to know people at the casino has been really great.

The way I handle playing tables is I give the dealer my initial buy-in (your amount will vary.) Then I tell myself that I will only get in my wallet to finish off a bet such as needing a 5 for a double down @ blackjack. For me walking away a winner doesn't happen all that often, so this method has help me keep my losses somewhat contained.